Strengthening institutional risk and integrity culture

Many of the costliest risk and integrity failures have cultural weaknesses at their core. Here is how leading institutions are strengthening their culture and sustaining the change.

 
The COVID-19 pandemic has created a time of unprecedented change for both public and private organizations across the globe. Executives and boards have had to move quickly to address threats and seize opportunities, all while continuing to protect employee and customer health and safety and evolving to adopt new digital and work-from-home norms.

Risk and integrity culture refers to the mindsets and behavioral norms that determine how an organization identifies and manages risk. In this challenging and highly uncertain moment, risk culture is more important than ever. Companies cannot rely on reflexive muscles for predicting and controlling risks. A good risk culture allows an organization to move with speed without breaking things. It is an organization’s best cross-cutting defense.

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Πηγή: mckinsey